OKEx to Roll Back ‘Irregular’ Futures Trades After Bitcoin Price Crashes Below $5,000

Cryptocurrency exchange giant OKEx is rolling back a series of Bitcoin futures transactions in response to an “irregular” sell-off that was localized to the trading platform. The Hong-Kong based exchange announced on Friday that it would reverse transactions that occurred this morning between 4:47 am and 6:30 am Hong Kong Time (HKT) when Bitcoin futures inexplicably plunged as low as $4,755 on OKEx even as the global average Bitcoin price remained closer to $7,000. Noting that prices on OKEx varied…

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Bitcoin price CRASH: Analysts think cryptocurrency could be reaching its BOTTOM

BITCOIN could be reaching the bottom of its bear run as experts speculate the cryptocurrency could fall in the $6,600-$6,000 range over the weekend, it has been reported The cryptocurrency hit a 50-day low on March 30, reaching $6,630. Writing on Coindesk, Bitcoin analyst Omkar Godbole said the digital currency tends to reverse every time the relative strength index drops to or below 30.00. He also speculated that Bitcoin will fall in the $6,600-$6,000 range over the weekend. He said:…

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AirAsia Planning Cryptocurrency-Based Rewards Program

Malaysian low-cost airline AirAsia is launching a cryptocurrency-based rewards program. AirAsia chief executive Tony Fernandes told Nikkei Asian Review that its frequent-flyer rewards program is being converted into a cryptocurrency platform called BigCoin. The move is part of a broader effort to improve the airline’s digital services and move the company toward a cashless system. In the Nikkei article published Thursday, Fernandes described a system in which customers could buy seats, in-flight meals, seat upgrades and other services using BigCoin, in addition to…

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Bitcoin Isn’t the Only Crypto Adding Lightning Tech Now

Lightning is spreading across the cryptocurrency landscape. Originally designed for use on bitcoin, the world’s largest cryptocurrency by market size was also the first to implement the concept, touted as a way to make transactions faster and cheaper by moving them to a layer above the blockchain. But with scalability emerging as a pressing issue across the industry, developers of other cryptocurrencies aren’t letting the once-novel idea go to waste. Entering 2018, litecoin, zcash, ethereum and ripple are just a few of the many cryptocurrencies planning to implement or test some form…

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Western Union Confirms Testing Ripple Technology For Money Transfers

The financial services provider Western Union (WU) is testing transactions with the use of Ripple’s(XRP) Blockchain-based settlement system, the company’s Chief Financial Officer Raj Agrawal said in an interview with Bloomberg Feb. 14. The globally known money transfer company Western Union confirmed that it is testing Ripple following more than a month of rumor-fuelled speculation that began in early January. The announcement comes after Western Union reported its 2017 results, claiming a revenue of $1.4 bln – a 5 percent increase over the previous year. As Ripple’s CEO Brad Garlinghouse told Bloomberg,…

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Ripple Partners With Saudi Arabian Monetary Authority To Offer Pilot Program For Banks

Ripple has announced an agreement today, Feb. 14, with the Saudi Arabian Monetary Authority (SAMA) to provide support for Ripple’s cross-border payments technology to banks in the Kingdom of Saudi Arabia (KSA). SAMA and Ripple have created a pilot program to provide support to KSA banks to use xCurrent, Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. The first of its kind to be launched by a central bank, the pilot program will allow participating KSA banks to…

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These Firms Are Milking the Cryptocurrency Markets for Astronomical Profits — And You’ve Probably Never Heard of Them

What US cryptocurrency-related company makes the highest amount of legal revenue per employee? No, it’s not Coinbase, and — unless you’re particularly tuned into the financial markets — you’ve probably never heard of it. That’s according to Tim Swanson, founder of tech advisory firm Post Oak Labs. Writing on Twitter, the former R3 executive related a recent exchange in which he was asked this same question. “I know there are a lot of headline numbers out there but the undisputed answer…

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Solve This Videogame’s “Mind-Blowing” Test, Get a Bitcoin

Beat the game, win a Bitcoin. Simple, right? That’s the premise of MonteCrypto: The Bitcoin Enigma, a PC game scheduled for release next week. The mysterious game, the latest in a long tradition of public treasure hunts, offers players the opportunity to achieve a lucrative payday — if they can solve the game’s two dozen puzzles, that its. At its core, MonteCrypto: The Bitcoin Enigma is a first-person maze exploration game, and players will be tasked with solving 24 “mind-bending puzzles.” Embedded…

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Coinbase Customers Suffer Erroneous Charges

With customers experiencing erroneous credit card charges for cryptocurrency purchases, Coinbase has blamed Visa for the charges but claims it is working with Visa to ensure all affected customers are reimbursed. Coinbase said the charges were caused by Visa reversing and recharging transactions. Coinbase Makes Its Case Over the last few months, banks and card issuers have asked the networks to change the MCC for digital currency purchases, Coinbase noted in another tweet, saying Visa changed the MCC for digital currency purchases to a…

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LINE, Japanese Messaging App, to Launch a Crypto Exchange

TOKYO: Japan’s biggest messaging app Line said it was launching a financial services spinoff to allow users to exchange and trade virtual currencies. Line said its new business would “provide a variety of financial services, including a place to exchange and transact virtual currencies, loans, and insurance.” The transactions will be made inside the messaging app, which already incorporates a mobile payment system. Line has a relatively small presence in the US and Europe, but is hugely popular in Japan…

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